Rajagopal emerges as richest Andhra politician, worth Rs.2.99 bn

Hyderabad, April 6 (IANS) Who is the richest politician in Andhra Pradesh? It’s neither actor-turned-politician Chiranjeevi nor Chief Minister Y.S. Rajasekhara Reddy’s son Y.S. Jaganmohan Reddy. With assets worth Rs.2.99 billion (Rs.299 crore), Congress MP Lagadapati Rajagopal has left everyone behind. Chiranjeevi, who was so far considered the richest man in the fray for this month’s elections with assets of Rs.880 million (Rs.88 crore), has been defeated in the race for riches by industrialist Rajagopal, who is seeking another term from the Vijayawada Lok Sabha constituency.

Jaganmohan Reddy, who is making his debut in electoral politics by contesting the Kadapa Lok Sabha seat, is at third place with Rs.770 million (Rs.77 crore) although his father is one of poorest politicians with assets worth Rs.3.3 million.

While filing his nomination from Pulivendula assembly constituency in his native Kadapa district, YSR declared he does not have any house or apartment or vehicle in his name or that of his wife Vijyalakshmi.

Rajagopal, the former chairman of Lanco Group of Companies, and his wife L. Padma together own movable and immovable assets worth Rs.2.99 billion.

According to the affidavit he filed along with his nomination papers, he has movable assets of Rs.900 million (Rs.90 crore) and immovable assets of Rs.140 million (Rs.14 crore). He also has foreign assets of $36.14 million (Rs.1.8 billion).

Rajagopal’s wife has movable and immovable assets of Rs.141 million (Rs.14.1 crore).

The Congress leader also has bonds and shares worth Rs.828.2 million (Rs.82.82 crore) in various companies. His assets include houses and apartments in Hyderabad worth Rs.133.5 million (Rs 13.35 crore), seven vehicles worth Rs.35.6 million (Rs 3.56 crore), 7,220 gm gold worth Rs.17 million (Rs.1.70 crore), and agricultural land worth Rs.7.02 million (Rs.70.2 lakh). He owes of Rs.59.1 million (Rs.5.91 crore) to different banks.

YSR’s main rival and Telugu Desam party president N. Chandrababu Naidu and his wife N. Bhuvaneswari together own assets of Rs.687 million (Rs.68.70 crore). The assets in the name of Naidu are worth Rs.130 million (Rs.13 crore).

Naidu, who is seeking re-election from Kuppam assembly constituency in Chittoor district, declared that he owns one vehicle - an old ambassador car worth Rs.222,000.